It’s no secret now that the Indian Millennial population is a potential market for the content creators around the world. Not only the millennial, but our parents and grandparents with the access to technology and smartphones have been consuming content like never before.
Be it Rashi’s cuteness in daily vlogs, Dhoni’s sixes on Hotstar, or binge watching new Netflix series, every experience is connected to getting indulged in the visual fascination, and of-course the soothing, sometimes heart-wrenching, sometimes heart-warming sound that accompanies all the visuals.
This is where earphones and headphones have made their way through the lives of the middle-class population.
It was not long back that we were eager to get the earphones that often came free of cost along with the brand new phone set that we bought from the local.
Now, everyone desires for the best earphones or headphones for their share of eargasms.
Everyone wants to listen to what they desire at the comfort of their home, without anyone disturbing them.
The Indian Market, which was still trying to figure out how to manage the yearly costs of a new earphone, has readily accepted the Indian Audio Electronics Startup – boAt.
Not only has it proved itself among the storm of international and resourceful players like Sennheiser and JBL, it has also focussed on the biggest reasons the newly luxury seeking population are buying earphones for – the budget. The cost has been highly competitive, and of-course with the quality of products that they have to offer, it is the best deal we Indians could ask for.
How did it all begin?
Founded by Sameer Mehta and Aman Gupta in the year 2016, the passion of music in both of them stemmed this idea of owning an Indian brand giving the luxury at a cost everyone could afford. Not only did they have a good taste in music, but also about the taste of the generation, themselves having known the increasing craze among the Indian millennials for high quality sound at an affordable rates. They came up with boAt, not only with the quality that they promised, but also with the brand that was a fashion affirmation.
A Mumbai based startup, it has grown from the nascent two founder stage to a whooping 40 member company, having offices around the country. From starting with 50 sales in the initial days in a day, the numbers have reached to a whooping 8,000 units being sold in a day. The revenue growth, as evident from figures in the internet, have increased by 4x on an year-to-year basis. According to expert estimates, they are projecting sales of more than Rs. 500 crores over the decade.
The partners that have helped boAt row fast through the Content Tsunami
boAt boasts of a lot of distribution partners. A simple google search of the names would explain the strong relationship that boAt has with online shopping companies like Myntra, Amazon and Flipkart. Along with this, they have also partnered with a number of outlets around the country selling their accessories through offline outlets. As of 2020, they have their own website through where they are expecting an increase of revenue.
Along with the online distribution partners are the Bollywood stars like Neha Kakkar, Kiara Advani and Kartik Aryan, who have been endorsing their products as style statements. All these factors have helped boAt become a leading player in the market in the particular segment.
Manufacturing in India – the “New India” focus
Of all the good things that we have to hear about boAt, one important thing that we’d like to focus on is the importance of not only having an Indian brand, but having manufacturing units in India.
Currently, most of the products are being manufactured in China, and only being marketed by boAt through their office in Mumbai. While this might not be an issue per se, what we expect in the near future is manufacturing units being set-up in India, which can not only add to the revenue of the Indian government, but also help the local youth get jobs in the market. Currently, China has been a hub of chip and electronic manufacturing.
India does not really stand apart when it comes to helping new startups nurture and venture in India, especially when it comes to manufacturing. But with liberal policies on manufacturing, helping startups with technology, skilled manpower, easy taxation, and lesser days to get clearances, we can expect companies like boAt to set up manufacturing units in India. If we think of it, while we are buying products from China, the end-of-life of these accessories only adds to the increasing e-waste being produced in India.
Truly appreciate